Experts are forecasting a substantial surge in the price of XRP, despite the current downward trends in the market. Ripple is planning to release a massive 400 million tokens, leading to anticipation of a significant increase in the value of XRP. Analysts, such as DustyBC, are predicting a “God candle” that could propel XRP to unprecedented levels, potentially reaching $30. This projection represents a staggering 4,000% price increase for the cryptocurrency. DustyBC believes that this parabolic shift could occur later this year, following years of consolidation and a symmetrical triangle pattern analysis. Another analyst, CasiTrades, shares this optimistic outlook for XRP, describing it as a once-in-a-lifetime opportunity as it nears the end of a 2,245-day triangle. CasiTrades previously suggested that if XRP breaks out of this triangle, it could reach as high as $80. Recent data from CoinMarketCap shows that XRP is currently trading at $0.5277, with a slight increase of 1.48% from the previous day. However, over the past week, the token has been experiencing a bearish trend, dropping by 0.18%. Additionally, Ripple’s plan to release 400 million tokens in the largest monthly XRP dump since 2017 has been reported by CNF. As excitement builds for the potential price surge of XRP, investors are advised to stay informed and monitor the market closely.
